Nissan and Mitsubishi Invest: In a significant move within the Renault-Nissan-Mitsubishi alliance, Nissan and Mitsubishi have officially disclosed their investment plans in Renault’s electric vehicle (EV) unit, Ampere. This strategic investment is geared towards bolstering the development of EVs specifically tailored for the European market. Both Nissan and Mitsubishi are set to make substantial financial contributions, with Nissan allocating up to 600 million euros and Mitsubishi committing around 200 million euros to Ampere.
Nissan’s involvement in Ampere is not merely financial; it positions itself as a “strategic investor” in the EV unit. Makoto Uchida, CEO of Nissan, expressed the view that venturing into the global development of electric vehicles independently would be a formidable challenge. By becoming a significant player in Ampere, Nissan aims to leverage the innovative software and connectivity solutions developed by the EV unit not only in Europe but also in other markets worldwide.
Ampere, a distinct entity carved out from Renault, is on track for a public listing in the coming year. The focus of this collaboration extends beyond mere financial support. Ampere is tasked with the development and manufacturing of an electric iteration of the compact Nissan Micra catering to the European market. Additionally, the EV unit will work on a medium-sized electric SUV tailored for Mitsubishi.
Also Read: Renault and Nissan Alliance: A New Era of Equal Partnership At 15%
Renault’s CEO, Luca de Meo, underscored the tangible benefits of this alliance, emphasizing that Ampere’s involvement will lead to a substantial 50% reduction in costs for the Nissan Micra. This strategic collaboration not only serves to optimize costs but also positions the alliance partners as key players in the rapidly evolving landscape of electric mobility.
Furthermore, the alliance partners affirmed their commitment to joint initiatives in other regions, including Latin America and India. This collaborative approach is indicative of a broader strategy to pool resources, share expertise, and streamline efforts in the increasingly competitive and dynamic global electric vehicle market.
As the automotive industry undergoes a transformative shift towards electrification, alliances and strategic investments of this nature are becoming pivotal in ensuring sustained innovation, cost-effectiveness, and market relevance. The Renault-Nissan-Mitsubishi alliance’s coordinated efforts through Ampere underscore a commitment to staying at the forefront of the EV revolution, with a particular emphasis on addressing the unique demands of the European market. This move not only solidifies the alliance but also positions it strategically to navigate the challenges and opportunities in the evolving landscape of electric mobility.
Our Reader’s Queries
Is Mitsubishi now owned by Nissan?
Mitsubishi Motors is primarily owned by Nissan, with a 34% stake in the company.
Why did Mitsubishi sell to Nissan?
Following the fuel-efficiency scandal that rocked Nissan in May 2016, the company took action by acquiring a 34% stake in Mitsubishi Motors. The goal was to become the largest and controlling shareholder of Mitsubishi, and to bring the company into the Renault-Nissan Alliance. This move was aimed at strengthening both companies and improving their overall performance.
Does Renault still own Nissan?
Renault and Nissan have decided to restructure their partnership, with Renault reducing its stake in Nissan to 15%. As part of the agreement, Renault will transfer 28.4% of its shares in Nissan to a French trust. This move marks a significant change in the longstanding partnership between the two carmakers.
Who is Mitsubishi partners with Nissan?
Established in 1999, the Renault-Nissan-Mitsubishi Alliance stands as the foremost automotive partnership globally, aimed at bolstering the competitiveness and profitability of its member companies.